J.M. WORTHINGTON & CO. LIMITED


Directors	B J Simpson
	J J Worthington


Registered Address	No.1 Kingsland House Kingsland Estate
	Halesfield 9
	Telford
	TF7 4QW


Registered Number	01278221 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		338,105		328,016
			338,105		328,016
Current assets
Stocks	5	53,232		45,329
Debtors	6	353,988		273,236
Cash at bank and on hand		351,735		562,129
		758,955		880,694
Creditors amounts falling due within one year	7	(656,692)		(730,179)
Net current assets (liabilities)			102,263		150,515
Total assets less current liabilities			440,368		478,531
Provisions for liabilities	8		(57,168)		(52,900)
Net assets			383,200		425,631
Capital and reserves
Called up share capital			20,050		20,050
Share premium			11,950		11,950
Revaluation reserve			58,409		58,409
Profit and loss account			292,791		335,222
Shareholders' funds			383,200		425,631

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2025, and are signed on its behalf by:

J J Worthington
Director
Registered Company No. 01278221

J.M. WORTHINGTON & CO. LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	25
	Fixtures and fittings	10
	Vehicles	25
	Office Equipment	25

	Stocks and work in progress
	Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	34		37

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	20,000	20,000
At 31 March 25	20,000	20,000
Amortisation and impairment
At 01 April 24	20,000	20,000
At 31 March 25	20,000	20,000
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	604,511	67,796	10,156	64,453	746,916
Additions	65,440	32,990	370	1,720	100,520
Disposals	-	(34,796)	-	-	(34,796)
At 31 March 25	669,951	65,990	10,526	66,173	812,640
Depreciation and impairment
At 01 April 24	339,313	18,551	3,498	57,538	418,900
Charge for year	51,069	15,747	1,053	3,284	71,153
On disposals	-	(15,518)	-	-	(15,518)
At 31 March 25	390,382	18,780	4,551	60,822	474,535
Net book value
At 31 March 25	279,569	47,210	5,975	5,351	338,105
At 31 March 24	265,198	49,245	6,658	6,915	328,016

5.	Stocks

	2025	2024
	£	£
Finished goods	53,232	45,329
Total	53,232	45,329

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	310,256	241,611
Other debtors	447	19,773
Prepayments and accrued income	43,285	11,852
Total	353,988	273,236

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	397,520	370,565
Bank borrowings and overdrafts	1,603	123,780
Taxation and social security	135,062	160,495
Payments received on account	-	90
Other creditors	4,075	2,934
Accrued liabilities and deferred income	118,432	72,315
Total	656,692	730,179


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	57,168	52,900
Total	57,168	52,900